According to Skew analysis, Ethereum (ETH) Open Interest has reached the all-time high.<\/p>\n
That may be connected with the reaching of the leading altcoins the new peaks. At the moment, Ethereum (ETH) is trading around the vital $400 mark.<\/p>\n
In terms of the technical analysis, the situation is the following one.<\/p>\n
ETH\/USD quotes on the daily chart broke through all the nearest resistance levels, which can act as strong support in case of a return to them. The values of the RSI indicator were also able to overcome the downtrend line.<\/p>\n
A price correction to the $355 level will provoke a return of the indicator values to this line, which can push the asset price to new tops. In case of a breakdown of the $430 level, it is worth considering continued aggressive growth further to the $515 level.<\/p>\n
Cancellation of the described option may be the exit from the support area with the price-fixing below the $355 level, which will confirm the breakdown of the lower boundary of the ascending channel and the continuation of the decline to the $290 level.<\/p>\n
On small time frames, quotes rise within the ascending channel. Here, too, the Triangle pattern is formed, which, as a rule, breaks out in the direction of the trend. A rebound from the trend line on the RSI indicator also speaks in favour of a further rise in prices.<\/p>\n
Confirmation of the idea with the continuation of the bullish impulse will be the breakdown of the upper border of the Triangle model with the consolidation of quotations above the $405 level. The immediate target of growth is the $420 level, overcoming which will indicate an acceleration of the rise to the $460 level.<\/p>\n
Cancellation of the proposed scenario may be a breakdown of the lower boundary of the model with the price-fixing below the level of $360, which will cause the quotes to move beyond the boundaries of the ascending channel and decrease them to the level of $300.<\/p>\n
Ethereum is trading at $395.84 at press time.<\/p>\n
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Ethereum (ETH) Futures Open Interest Reaches the All-time High... - TheTradable<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" According to Skew analysis, Ethereum (ETH) Open Interest has reached the all-time high. That may be connected with the reaching of the leading altcoins the new peaks Continue reading